Sterling Infrastructure (NASDAQ:STRL) Stock Price Up 8.6%

Sterling Infrastructure, Inc. (NASDAQ:STRL)’s stock price was up 8.6% during mid-day trading on Thursday . The company traded as high as $147.01 and last traded at $146.50. Approximately 341,586 shares were traded during trading, a decline of 3% from the average daily volume of 352,361 shares. The stock had previously closed at $134.94.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a research note on Sunday.

Sterling Infrastructure Trading Up 9.4 %

The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of 30.16, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16. The company has a fifty day moving average price of $115.16 and a 200-day moving average price of $114.03. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.44.

Sterling Infrastructure (NASDAQ:STRL) last posted its earnings results on Monday, August 5th. The construction company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.24. Sterling Infrastructure had a net margin of 7.85% and a return on equity of 25.64%. The firm had revenue of $582.82 million during the quarter, compared to analysts’ expectations of $553.70 million. During the same period in the previous year, the company earned $1.27 earnings per share. On average, equities research analysts predict that Sterling Infrastructure, Inc. will post 5.66 EPS for the current year.

Hedge Funds Weigh In On Sterling Infrastructure

Hedge funds have recently bought and sold shares of the business. Xponance Inc. lifted its position in shares of Sterling Infrastructure by 5.1% in the second quarter. Xponance Inc. now owns 1,914 shares of the construction company’s stock worth $227,000 after buying an additional 93 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in Sterling Infrastructure by 4.3% in the 1st quarter. New York State Teachers Retirement System now owns 2,711 shares of the construction company’s stock worth $299,000 after purchasing an additional 111 shares during the last quarter. EFG Asset Management North America Corp. boosted its position in Sterling Infrastructure by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 25,246 shares of the construction company’s stock worth $2,985,000 after purchasing an additional 120 shares during the period. SummerHaven Investment Management LLC grew its holdings in Sterling Infrastructure by 1.0% during the second quarter. SummerHaven Investment Management LLC now owns 13,006 shares of the construction company’s stock valued at $1,539,000 after purchasing an additional 124 shares during the last quarter. Finally, Crewe Advisors LLC grew its holdings in Sterling Infrastructure by 85.4% during the second quarter. Crewe Advisors LLC now owns 293 shares of the construction company’s stock valued at $35,000 after purchasing an additional 135 shares during the last quarter. 80.95% of the stock is owned by institutional investors and hedge funds.

About Sterling Infrastructure

Sterling Infrastructure, Inc engages in the provision of e-infrastructure, transportation, and building solutions primarily in the United States. It operates through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment provides site development services for the blue-chip end users in the e-commerce distribution center, data center, manufacturing, warehousing, and power generation sectors.